Investments

On Dec. 31, 2018. Dollars in thousands.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Wells Fargo is once again flirting with something that no major U.S. bank has done in a decade: have a dividend yield north of 4%. Don't expect a celebration.

The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016.

The company could use its share of proceeds from the IPO to repay debt and pursue bank acquisitions.

The initial public offering of payment-service company Nexi SpA raised 2.01 billion euros ($2.3 billion), making it the biggest listing in Europe so far this year and the third major IPO of a payment-processing institution in the region in less than a year.

Over time, Pinterest has built a powerful e-commerce and payments engine underneath its social network site. This enables any Pinterest post to double as a portal for commerce — one that is especially powerful on mobile.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.